Technavio, a tech-focused market research firm, has published a new report on the global APIs market, which is expected to experience a steady growth rate with a CAGR of around 7% during the forecast period 2017-2021.
This latest report by Technavio covers the market outlook and growth prospects of the global APIs market for 2017-2021, considering 2016 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global APIs market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global APIs market for 2016 (market share %)
Americas |
42.01% |
APAC |
29.47% |
EMEA |
28.52% |
Source: Technavio
APIs market in the Americas
In 2016, the Americas accounted for around 42% in the APIs market. The APIs market in the Americas is growing due to the high demand for generic drugs, especially in the US. Patent expiries of blockbuster drugs are also expected to contribute to the market growth. Growth in the population of the elderly, rising health concerns, and the presence of an established R&D structure for novel drug development are also providing prospects for the market growth in the region.
According to Ajay Adhikari, a lead analyst at Technavio, specializing in research on plastics, polymers, and elastomers, The increasing focus on HPAPI is a major factor that is driving the market growth during the forecast period. North America is a major contributor to the market owing to the presence of several established pharmaceutical companies that require large quantities of APIs. The introduction of biosimilars is further expected to drive the market growth in the region. Moreover, economic growth and increasing acceptance of pharmaceuticals in Central and South America will further propel the market growth.”
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APIs market in APAC
The APIs market in APAC is expected to grow considerably during the forecast period, which can be due to the presence of many vendors that offer generic APIs. In addition, the availability of cheap labor and the presence of many manufacturing facilities, especially in China, India, Japan, and South Korea will also influence the market growth. The high demand for biotech and generic APIs will contribute significantly to the market growth in the region. Furthermore, global pharmaceutical companies are outsourcing the production of APIs to the companies in APAC owing to the lower production costs. Japan and China are the key markets for APIs in this region, followed by India, Taiwan, and South Korea.
APIs market in EMEA
The APIs market in EMEA is expected to post a steady growth during the forecast period. Africa will be the key contributor to the region due to the presence of the growing economies and increasing prevalence of cancer and diseases associated with aging. The increasing collaborations between the vendors in this region is expected to contribute to the market growth. France, Germany, and the UK are the major markets for APIs in Europe. APIs sold in Europe must fulfil the regulations prescribed by government agencies such as the European Medicines Agency. The prevalence of age-related diseases, increasing incidence of cancer, and growing health concerns are expected to drive the market growth in EMEA.
The top leading vendors operating in the global APIs market are:
- Aurobindo Pharma
- Cipla
- Dr. Reddy’s Laboratories
- Sun Pharmaceutical Industries
- Teva Pharmaceutical Industries
Other prominent vendors in the market include Abbott Laboratories, Albemarle, Amgen, BASF, Biocon, Boehringer Ingelheim, Bristol-Myers Squibb, CIRON Drugs & Pharmaceuticals, Dishman Pharmaceuticals and Chemicals, Emcure Pharmaceuticals, Ipca Laboratories, Johnson Matthey, Guilin Pharmaceutical, Johnson & Johnson, Lonza Group, Merck, Novartis, Pfizer, Roche.
A more detailed analysis is available in the Technavio report titled, ‘Global APIs Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Pharmaceutical Contract Manufacturing Market 2016-2020
- Global Pharmaceutical Packaging Equipment Market 2016-2020
- Global Pharmaceutical Caps and Closures Market 2016-2020
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